New Delhi, Feb 1 (PTI) Following are some reactions from corporate leaders on the Budget for 2022-23: — Tata Sons Chairman N Chandrasekaran: “The budget is consistent with our Prime Minister Narendra Modi’s vision of making India Atmanirbhar: a digital superpower, a sustainability leader and a healthy nation”.
— Vedanta Group CEO Sunil Duggal: “…Growth-oriented and pro-development budget with sizeable capital investment for sustained and speedy economic revival”. — ITC Chairman Sanjiv Puri: “I congratulate the Finance Minister for once again presenting a visionary, futuristic and growth oriented Budget, which is aligned to the Prime Minister’s vision of building a competitive and resilient India”. — Tech Mahindra MD & CEO CP Gurnani: “The budget truly echoes India’s vision towards inclusive development and building a truly ‘Atmanirbhar Bharat’ by providing a blueprint for the economy over ‘Amrit Kal’ from India at 75 to India at 100″. — Dabur India CEO Mohit Malhotra: “Finance Minister Nirmala Sitharaman’s Union Budget 2022-23 may not have met the general expectations of being a short-term consumption booster, but it surely has all the right ingredients for becoming an impactful long-term growth-oriented move”.
— Torrent Group Chairman Samir Mehta: “This year’s union budget has considerable focus on overall infrastructure development across the country which underscores the growth opportunity for Power sector. — Snapdeal Co-founder & CEO Kunal Bahl: “We welcome the government’s emphasis on creating new digital touchpoints to empower multiple aspects of our society and supercharge the startup ecosystem”.
— Flipkart Group CEO Kalyan Krishnamurthy: “… Inclusive and growth-oriented balanced budget with a clear focus on strengthening physical and digital infrastructure, boosting the ‘Make in India’ start-up ecosystem and providing a strong digital push”.
— Panasonic India CEO Manish Sharma: “It underscores the Govt commitment towards Digital India and investment in Public Private Partnership through game changing initiatives like Gati Shakti programme, investment in the sunrise sectors and MSMEs, introducing policies for clean energy, among others”.
— Martin Schwenk, MD & CEO, Mercedes-Benz India: “This Budget is overall growth oriented with a clear focus on digitization, electrification, infrastructure development and ease of doing business; aiming to propel a long-term growth of the Indian economy”.
— Prashant Ruia, Director, Essar Capital: “A blueprint budget with a nice touch of green! A bold one with a massive hike in public investment will be the booster dose to restart corporate investments”.
— Harsh Jain, CEO and Co-Founder, Dream11 and Dream Sports: “We welcome the budget’s focus on promoting start-ups and giving impetus to the Digital Economy”.
— Neeraj Akhoury, CEO & MD Ambuja Cements: “The Union Budget 2022 gives a major boost to the infrastructure sector that will help the economy to recover, and grow, at pace”.
— Sunil Mathur, MD and CEO, Siemens Limited: “We welcome the growth-oriented budget with a focus on the four pillars – productivity, climate action, financing investments, and PM Gati Shakti plan”.
— Reliance General Insurance CEO Rakesh Jain: ” The Budget for the year 2022-23 has laid clear emphasis on the capital outlay, with the capital expenditure proposed to be enhanced to Rs.7.5 lakh crore at 2.9 pc of the GDP; over 35 pc increase than the last year”.
— Venkatraman Narayanan, MD&CFO, Happiest Minds: Continued focus to further improve the ease of doing business, consistency and stability in tax rates, rebates, push to further digitise the economy etc will support software sector which will go a long way for the IT industry to become a USD350 billion economy over the next five years.
— Dheeraj Hinduja, Executive Chairman, Ashok Leyland Limited: The Finance Minister has presented a growth-oriented and pro-development Budget for 2022-23 by focusing on sustainable planning & development, energy transition for a cleaner tomorrow and inclusive growth through a tech-enabled economy. — Kamal Bali, President and MD, Volvo Group, India: A progressive, thoughtful, imaginative, and growth-oriented budget that touches all socio-economic segments, while embracing technology & modern tools of governance. Focus on logistics will help solve supply-side challenges and curb structural inflationary challenges. Public transport, urban infrastructure push, and inter-operable battery swapping policy are big positives. Extension of ECLGS credit guarantee to MSME and hospitality sectors is a welcome step.
— Baba N. Kalyani, CMD Bharat Forge Ltd: The proposed new legislation for SEZs with states as partners coupled with heightened emphasis on the seven engines under PM Gati Shakti initiative should pave way for a New India.
— Anil G Verma, Executive Director and President, Godrej & Boyce: The Budget for FY 2023 holds a lot of promise for the economy. The initiative of spurring investments from the private sector by taking the lead through government investments of Rs. 7.5 lakh crore is laudable. Support for domestic manufacture of capital equipment by doing away with duty exemptions is also a welcome step. Reforms in customs administration will no doubt support both the SEZs as well as other manufacturers in the domestic tariff area.
— Aakash Minda, Executive Director, Minda Corporation Limited: Dubbed the ‘booster dose budget’ in some quarters, some of the measures unveiled today, like Capex spent of around 7.5 lakh crore, PM Gati Sakti projects and focus on making India more Atmanirbhar will certainly offer a shot in the arm for the manufacturing industry.
— Nagesh Basavanhalli, Group CEO & MD, Greaves Cotton Limited: The Union Budget 2022 has some important announcements to accelerate economic growth by focusing on four core pillars of productivity, climate action, financing investment and PM Gati Shakti Programme which will help strengthen our infrastructure and MSME sector. PTI RSN IAS MR MR
